NEXT plc (NXT) Downgraded to Underweight at Morgan Stanley

Morgan Stanley cut shares of NEXT plc (LON:NXT) to an underweight rating in a research report report published on Wednesday. Morgan Stanley currently has GBX 4,300 ($56.53) price target on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Barclays PLC reissued an underweight rating and set a GBX 3,900 ($51.28) target price on shares of NEXT plc in a report on Friday, September 22nd. Berenberg Bank reissued a sell rating and set a GBX 3,650 ($47.99) target price on shares of NEXT plc in a report on Thursday, September 14th. Credit Suisse Group boosted their target price on shares of NEXT plc from GBX 4,000 ($52.59) to GBX 4,200 ($55.22) and gave the company an underperform rating in a report on Friday, September 15th. Numis Securities Ltd reissued a hold rating and set a GBX 5,100 ($67.05) target price on shares of NEXT plc in a report on Friday, September 15th. Finally, Deutsche Bank AG boosted their target price on shares of NEXT plc from GBX 4,150 ($54.56) to GBX 4,400 ($57.85) and gave the company a hold rating in a report on Friday, September 15th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of GBX 4,431.95 ($58.27).

Shares of NEXT plc (LON NXT) traded down 1.21% during trading on Wednesday, hitting GBX 4989.00. The stock had a trading volume of 535,514 shares. NEXT plc has a 52 week low of GBX 3,565.00 and a 52 week high of GBX 5,355.00. The company’s market capitalization is GBX 7.11 billion. The company’s 50 day moving average price is GBX 4,744.00 and its 200 day moving average price is GBX 4,304.09.

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The business also recently announced a dividend, which will be paid on Tuesday, January 2nd. Investors of record on Thursday, December 7th will be given a GBX 53 ($0.70) dividend. The ex-dividend date is Thursday, December 7th. This is a positive change from NEXT plc’s previous dividend of $45.00. This represents a yield of 1.05%.

In other NEXT plc news, insider Caroline Goodall purchased 450 shares of the business’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of GBX 4,294 ($56.46) per share, for a total transaction of £19,323 ($25,404.94). Also, insider Michael J. Roney purchased 9,061 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were acquired at an average price of GBX 4,386 ($57.67) per share, with a total value of £397,415.46 ($522,502.58).

About NEXT plc

NEXT plc is a United Kingdom-based retailer offering clothing, footwear, accessories and home products. The Company’s segments include NEXT Retail, a chain of over 500 stores in the United Kingdom and Eire; NEXT Directory, an online and catalogue shopping business with over four million active customers and international Websites serving approximately 70 countries; NEXT International Retail, with approximately 200 mainly franchised stores; NEXT Sourcing, which designs and sources NEXT branded products; Lipsy, which designs and sells Lipsy branded younger women’s fashion products, and Property Management, which holds properties and property leases which are sub-let to other segments and external parties.

Analyst Recommendations for NEXT plc (LON:NXT)

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